Watch for emerging nations Imagine if developing countries aggressively coordinate on international finance. That could be the result of the G20
Managers and funds swap places The UK budget is encouraging funds onshore. But income tax and the hedge funds directive are pushing managers offshore
Be careful with time limits Getting Spacs more time for an acquisition can be tricky. Make sure you consider disclosure, authority and contractual issues
Welcome flexibility At least the final directive has some options for banks. That 5% retention might go up though
How can secondary boards succeed? Marketing is more important than disclosure for Asia's alternative exchanges
When I was in the White House Arthur B Culvahouse Jr, counsel to President Reagan and managing partner of O'Melveny & Myers, says the US needs to sort out its regulatory arbitrage
Hedge funds have taken control Hedge funds and private equity are changing the way debtor-in-possession loans work. Expect more arguments over control clauses and lien facility positioning
A necessary headache Bafin should be commended for its work in Germany, says Jasmin Kölbl-Vogt of Citi
Nobody is happy Private equity houses object to the scope of the AIFM directive, while some politicians want it to go further
Bankers' Counsel Poll 2009 Bankers' counsel believe a single global regulator is both undesirable and impossible. They also think that the FSA has been the UK's biggest asset and that a return to Glass-Steagall would be a bad move. By Elizabeth Fournier
Private practice response: Morrison & Foerster: Don't rely on models Last year, James Tanenbaum said that Basel II would have made no difference to sub-prime. Now he's surprised bankers' counsel haven’t lost faith in models completely
Skadden recruits from Citi; Herbert Smith hires Linklaters office; Simpson recruits from Clifford Chance All the people moves and firm news from May
Asia's first covered bond; Ford launches equity offering with Davis Polk; Countrywide restructured by Freshfields The top deals of the month
European companies targeted The financial crisis is dragging more and more European companies into US courts
Making sense of the regimes A comparison of local regulation of rights offerings across Asia and a call for it to be harmonised
International Chinese standards The 2009 Nafmii Master Agreement is a synthesis of the best international standards, with Chinese adaptations
A lot to talk about Europe's top lawyers and banks had an immense range of proposed regulation, crisis management and legal structures to debate at this year's Capital Markets Forum in London
Special servicers key to property deals Structured finance and special servicing is changing commercial property loan workouts. You need to know how a special servicer works
Lessons of the Dow/Rohm saga Unlike the Hexion or United Rentals cases, Dow tried to pull out of its acquisition by challenging specific performance as inequitable
New regime needs tweaks Good news for foreign creditors, especially for the risk of a security provider going insolvent
